Here's news of a local bank that will be a recipient of the federal bailout proceeds. Nathaniel Hoffman is using his hound like senses to root out the fact that Intermountain Community Bancorp applied and got approval for $27 million of the free, newly printed money. Intermountain is the holding company for Panhandle State Bank based out of Sandpoint and has branches in Nampa and Gooding. Trouble for Nathaniel is that CEO Curt Hecker won't return his phone calls to see what the money is for or why it was needed. Still absolutely zero oversight on the bailout despite Treasury Department assurances and a Congressional mandate. Panhandle's mission statement promised to invest community money back into the local economy but there is no requirement that bailout funds be loaned out at all/Sisyphus, 43rd State Blues.More here.

Question: Do you think the massive federal bailout has proper oversight?